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Buying 20-year-old Karnataka Housing Board apartment at Mysore Road, Bangalore

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Buying 20-year-old Karnataka Housing Board apartment at Mysore Road, Bangalore

Last updated: March 1 2019
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  • Buying 20-year-old Karnataka Housing Board apartment at Mysore Road, Bangalore

    I am thinking to buy an apartment which is 711 sq feet, 20+ years old built by KHB (Karnataka Housing Board) in Kengeri Satellite town. There is absolutely no maintenance but the apartment has got Kaveri connection. The price negotiated with the seller is around 12 lakhs and after registration costs it comes as around 13.5 lakhs. The guidance value is around 17.5 lakhs (increased recently by Govt.) Also the house needs renovation. The apartment is on main road and all amenities are available near by.

    The apartment is for self use for at most 5 years. Is this is a good decision to buy this apartment?
    Last edited February 27 2019, 01:51 PM.
  • #2

    #2

    Re : Buying 20-year-old Karnataka Housing Board apartment at Mysore Road, Bangalore

    Buy it only if you are an end user and not bothered about return on investment. After 5 years you may not even get back the prinicpal amount you put in.

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